Lansingburgh Apartments closed July 18, 2016 for $4,077,500.

Lansingburgh Apartments closed July 18, 2016 for $4,077,500.

PHILADELPHIA, July 18, 2016 – Marcus & Mililchap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Lansingburgh Apartments, a 96-unit senior/HAP property. The property closed for $4,077,500.

Lansingburgh Apartments sits on the eastern bank of the Hudson River, on 114th Street in Troy, Rensselaer County, New York. The property has 23 studio/one-bath HAP units, 72 one-bedroom/one-bath HAP units, and 1 one-bedroom/one-bath market rate unit. The HAP contract is on a 20-year agreement, expiring in 2023.

Built in 1920, the building features an elevator, laundry center, and clubhouse with great room. The building has controlled access, as well as an intercom system. Units feature fully equipped kitchens, self-controlled heat, and wall-to-wall carpeting. It is in a strong location, proximate to shopping, restaurants, and the local public library.

Property Highlights:

  • 96-Unit Senior/HAP Property in Troy, NY
  • Studio and One-Bedroom Units
  • Controlled Access Elevator Building
  • Located Just Outside of Albany, NY
  • Less Than 3 Hours to Boston and New York City

For more information, contact: